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Having traceability in requirements is crucial in a project because it assists in understanding the relationship of each requirement. This relationship often reveals how certain requirements are related to one another, including their dependencies, hierarchies, and how they align with project objectives and stakeholder needs. This clarity is vital for ensuring that all parts of the project work together cohesively and that any changes made to one requirement can be evaluated for their impact on others.

Establishing and maintaining traceability helps project teams to track the origin of each requirement, understand its evolution, and ensure that every requirement contributes to achieving the project's goals. It can also facilitate communication among team members and stakeholders, as everyone can trace back to the source of each requirement and understand its significance.

In contrast, the other options do not accurately encapsulate the core benefit of requirement traceability; while they may touch upon aspects of project management, they do not directly relate to the clarity and understanding of requirement relationships as effectively as the correct choice.